APA (NASDAQ:APA) Price Target Raised to $45.00 at Citigroup

APA (NASDAQ:APA) had its target price lifted by Citigroup from $25.00 to $45.00 in a research note released on Monday,Benzinga reports. They currently have a neutral rating on the stock.

Several other brokerages have also recently issued reports on APA. Truist Financial started coverage on shares of APA in a research note on Tuesday, March 24th. They issued a “hold” rating and a $38.00 price objective on the stock. Wolfe Research raised their target price on shares of APA from $39.00 to $45.00 in a research note on Monday, March 9th. JPMorgan Chase & Co. boosted their price target on shares of APA from $29.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday, March 20th. Johnson Rice raised shares of APA from a “hold” rating to an “accumulate” rating and increased their price target for the stock from $35.00 to $40.00 in a report on Thursday, December 4th. Finally, The Goldman Sachs Group raised their price objective on shares of APA from $29.00 to $30.00 and gave the company a “sell” rating in a research report on Monday, March 23rd. Seven equities research analysts have rated the stock with a Buy rating, twenty have given a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $34.58.

APA Stock Down 1.5%

APA stock opened at $43.74 on Monday. The stock has a 50 day moving average of $31.06 and a two-hundred day moving average of $26.68. APA has a twelve month low of $13.58 and a twelve month high of $45.66. The stock has a market capitalization of $15.45 billion, a price-to-earnings ratio of 10.96 and a beta of 0.67. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.61.

APA (NASDAQ:APA) last released its earnings results on Wednesday, February 25th. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.29. APA had a return on equity of 19.89% and a net margin of 15.55%.The business had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same quarter in the previous year, the company posted $0.79 earnings per share. The company’s revenue for the quarter was down 26.6% compared to the same quarter last year. As a group, research analysts expect that APA will post 4.03 earnings per share for the current year.

APA Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 22nd. Shareholders of record on Wednesday, April 22nd will be given a dividend of $0.25 per share. The ex-dividend date is Wednesday, April 22nd. This represents a $1.00 dividend on an annualized basis and a yield of 2.3%. APA’s payout ratio is presently 25.06%.

Insider Activity

In related news, Director Matthew Regis Bob sold 23,000 shares of APA stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $36.23, for a total transaction of $833,290.00. Following the completion of the transaction, the director directly owned 6,634 shares in the company, valued at $240,349.82. The trade was a 77.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in APA. Rockefeller Capital Management L.P. grew its holdings in shares of APA by 0.4% during the fourth quarter. Rockefeller Capital Management L.P. now owns 106,667 shares of the company’s stock worth $2,609,000 after buying an additional 375 shares in the last quarter. Coldstream Capital Management Inc. lifted its stake in shares of APA by 1.4% during the fourth quarter. Coldstream Capital Management Inc. now owns 28,171 shares of the company’s stock valued at $689,000 after buying an additional 396 shares during the period. Patriot Financial Group Insurance Agency LLC boosted its position in APA by 3.2% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 14,648 shares of the company’s stock worth $358,000 after acquiring an additional 461 shares during the last quarter. Howard Capital Management Inc. boosted its position in APA by 0.5% during the third quarter. Howard Capital Management Inc. now owns 94,848 shares of the company’s stock worth $2,303,000 after acquiring an additional 485 shares during the last quarter. Finally, one8zero8 LLC grew its stake in APA by 1.2% in the 3rd quarter. one8zero8 LLC now owns 42,254 shares of the company’s stock worth $1,026,000 after acquiring an additional 488 shares during the period. 83.01% of the stock is currently owned by hedge funds and other institutional investors.

APA Company Profile

APA Corporation (NASDAQ: APA) is an independent exploration and production company engaged in the acquisition, development and production of oil and natural gas resources. The company operates through three core regions: the United States, Egypt and the North Sea. Through its integrated approach, APA combines geological and geophysical expertise with technical innovation to identify and develop hydrocarbons in both onshore and offshore settings.

In the United States, APA’s largest position is in the Permian Basin of West Texas and southeastern New Mexico, where it holds substantial acreage dedicated to oil-focused drilling and production.